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In order to avoid the last-minute rush of return filers, which often leads to crashing of its portal, the GST Network has come up with a few ideas under the new return filing system to be implemented from the next financial year. The Modi govt has given its approval to import of 36,090 metric tonnes of onions amid the ongoing supply crunch. SBI has announced a cut in the marginal cost of funds-based lending rate (MCLR) by 10 bps for its 1 year MCLR. Read for more top stories from the world of business and economy:

Rajan pointed out that extreme centralisation, coupled with lack of empowered ministers and a coherent guiding vision meant reforms picked up steam only when PMO focused on them and lost pace when its attention switched to other pressing issues.

State Bank of India, the country's biggest lender has said that it continues to be the cheapest loan provider in the country. It said that it commands 25 per cent of the market share in home as well as auto loans.